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Ark Invest’s Innovation ETF realized a loss of $3.5 billion in the fiscal year ending July 2024.
Ark Invest posted cumulative losses of $22 billion across its series of ETFs.
Cathie Wood said in this summer’s X Post that trading losses can help offset future taxes.
Cathie Wood’s Ark Investments recently filed its annual report for the fiscal year ended July 31, revealing huge losses.
Ark’s flagship Innovation ETF realized losses of $3.5 billion from July 31, 2023 to July 31, 2024.
Total cumulative losses across Ark’s suite of eight innovation and disruption-focused ETFs were $21.7 billion, according to the annual report.
The past few years have been tough for the speculative growth stocks that Ark Funds has focused on. Ark Invest’s fund losses followed speculative trading deflation in 2021 as investors fled loss-making companies amid high inflation and rising interest rates, where Ark Invest invests heavily.
In July, the Financial Times flagged a now-deleted thread about The company defended the property by claiming that it was an asset that was owned by the government.
“As a result, our trading-related capital tax losses should offset trading-related capital tax gains over the years, which are undervalued assets associated with our strategy,” Wood said in the post. Ta.
The Ark Innovation ETF is down 9% since the beginning of the year and 70% from its all-time high.
Ark Invest did not respond to a request for comment.
Below are the stocks in Ark Invest’s flagship ETF that posted the largest realized losses in the fiscal year ended July 31.
10. Verasite
Market Insider
Ticker: VCYT
Ark’s realized loss: $6.8 million
9.PagerDuty
Market Insider
Ticker: PD
Ark’s realized loss: $10 million.
8. Beam therapy
Market Insider
Ticker: Beam
Ark’s realized loss: $47.3 million.
7. Twisted Bioscience
Market Insider
Ticker: TWST
Ark’s realized loss: $50 million.
6.2U
Markets Insider screenshot from March 2024
Ticker: Delisting (Bankruptcy)
Ark’s realized loss: $195.4 million.
5.UiPath
Market Insider
Ticker: Pass
Ark’s realized loss: $270.9 million.
4. Invitation
Provided by Invitae
Ticker: Delisting (Bankruptcy)
Ark’s realized loss: $453.4 million.
3. Roku
Market Insider
Ticker: ROKU
Ark’s realized loss: $467.3 million.
2. Ginkgo Bioworks
Market Insider
Ticker: DNA
Ark’s realized loss: $510.3 million.
1. Teladoc Health
Market Insider
Ticker: TDOC
Ark’s realized loss: $1.5 billion
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